India's Excel Industries falls nearly 13% on Q4 profit slump

Excel Industries

17/05/2023 09:45

** Shares of specialty chemicals maker Excel Industries Ltd
 EXCI.NS  fall as much as 12.60%, steepest intraday pct slide in
over three years, to 802.40 rupees
    ** Co reports consolidated profit after tax of 21.6 mln
rupees in March quarter down from 447.9 mln rupees in the
previous year  urn:newsml:reuters.com:*:nFWN37D0YY
    ** Consolidated revenue falls 38% YoY to 2.26 bln rupees;
core profit tumbles 84% to 109.59 mln rupees in Q4
    ** Core profit margins contract to 4.85% in March quarter
from 18.29%
    ** Co approves dividend of 11.25 rupees per share, subject
to shareholders' approval
    ** Stock is most active in eight months, with a trading
volume of 101,449 shares as of 2:04 p.m. IST, nearly eight times
the 30-day avg - Refinitiv data

    

 (Reporting by Bharath Rajeswaran in Bengaluru)
 ((bharath.rajeswaran@thomsonreuters.com; +91 9769003463))